Title: Managing Risks and Changes
1Managing Risks and Changes
John Burke
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5What Is Risk?
6A Definition of Risk
A future event (or series of events) with a
probability of occurrence and the potential for
impact that can be either positive or negative.
7Risk To What?
Health Safety Objectives Resources Reputation
8Emotional Perception of Risk
Personal involvement Personal interest
involved Third Party involvement A question of
consequence?
9Perception of Risk - Video
10An Over-Cautious Approach?
11Risk Identification
12Areas of Likely Risk
- Planned Activities
- Those who supply us
- Resources
- Interfaces
- The Organisational Environment
- The External Environment
13Dont Shoot the Messenger
14Ishikawa or Fishbone Diagrams
15When Planning for the Future
- Identify risks of doing
- Identify risks of NOT doing
16Risk Assessment
17Assessment of Risk
- Probability
- Impact
- Proximity
18Assessment of Risk
19Risk Response Planning
20Not Recommended
Ostrich approach -head in the sand
21Risk Response Options
- Risk Avoidance
- Risk Transference
- Risk Mitigation
- Risk Deferral
- Risk Acceptance
22Assessment of Risk
23Risk Response Actions
- What will you do?
- Who will be responsible?
- How will you know it is about to hit?
- What records will you keep?
- How will you guard against it for the
future?
24Solve One, Create Another
25Three-Point Estimates
- MO Most Optimistic
- ML Most Likely
- MP Most Pessimistic
26Risk Monitoring Control
27The Risk Log
Description of the Risk Identified By Date
Identified Probability (if changeable give a
timeline) Impact (if changeable give a
timeline) Mitigating Actions Owner Review Date
28The Risk Log
The Project Controls Database
29When Something Happens
- Communication
- Update the log
- Time for Plan B
- Assess impact on what is still to do
- Identify any new risks
30http//www.jiscinfonet.ac.uk